RismadarVoice Reporters, May 6, 2026
The Economic and Financial Crimes Commission (EFCC) has arraigned a businessman, Taiwo Sunday, over allegations of fraud involving ₦123 million, before the Oyo State High Court sitting in Ibadan.
Sunday was brought before Justice Kareem Adedokun by the Ilorin Zonal Directorate of the EFCC on a two-count charge bordering on obtaining money under false pretence and related financial misconduct, offences said to contravene Section 390 of the Criminal Code Law of Oyo State, 2000.
According to court documents, the case arose after a petitioner, Oluwarotimi John, alleged that in April 2024, the defendant approached him with an offer to supply motorcycles. Sunday reportedly claimed to have exclusive dealership arrangements with major distributors in Lagos and parts of Northern Nigeria.
Relying on the representation, the complainant said he transferred a total sum of ₦123,050,000 into a corporate account belonging to Yemsund Enterprise, with Union Bank account number 0159405441.
However, the prosecution alleged that despite receiving the funds, the motorcycles were never supplied, and the money was neither refunded nor accounted for.
The EFCC maintained that the transaction was fraudulent, leading to the defendant’s arraignment.
The court has adjourned the matter for further hearing, as the commission continues its prosecution efforts in line with its mandate to combat financial crimes across the country.
